Eric LeCompte Featured in Financial Advisor

Eric LeCompte, Executive Director of Jubilee USA was recently featured in Financial Advisor speaking on tax and transparency. Read excerpt below and follow link to full article.

Treasury Eyes Money Laundering In Luxury Real Estate

By: Thomas Kostigen

"The reason title insurance companies are being drawn into regulations is because cash transactions of real estate aren’t monitored. Banks and mortgage companies, however, do have controls for detecting money laundering activities.    

'Luxury real estate transactions can be used to launder money,' affirmed Eric LeCompte, executive director of Jubilee USA, a nonprofit that lobbies for financial reforms, in a prepared statement. Further, such purchases can support tax evasion and drive up real estate prices, he said."

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